Latest news with #Farside
Yahoo
29-04-2025
- Business
- Yahoo
BlackRock's IBIT Sees Second-Largest Bitcoin Inflow Since Launch, Nearing $1 Billion
The BlackRock iShares Bitcoin (BTC) Trust ETF (IBIT) saw $970.9 million in inflows, marking its second-largest net inflow since launching in January 2024, according to Farside data. Monday accounted for $591.2 million in new capital, which saw heavy outflows from competitors: Fidelity's FBTC lost $86.9 million, Bitwise's BITB dropped $21.1 million, and ARK's ARKB saw $226.3 million in outflows. The rise comes alongside a 7.2% rise in BTC over the past seven days with it now trading at $94,900. Since April 22, IBIT has amassed over $4.5 billion in net inflows, bucking the market trend. Industry experts have taken note. Nate Geraci, President of The ETF Store, remarked: "Nearly $1 billion into iShares Bitcoin ETF today... Second-largest inflow since January 2024 inception. I still remember when there was 'no demand'." Eric Balchunas, Senior Bloomberg ETF Analyst, added: "ETFs are in two-steps-forward mode after taking one step back, exactly the pattern we predicted." Meanwhile, in derivatives markets, open interest (OI) on CME Bitcoin Futures continues to fall, now sitting at 132,750 BTC after four consecutive days of decline, according to CME data. The recent decline in open interest could be coming to an end, as the annualized basis yield has climbed from around 5% to 9% in April, according to Velo data. This resurgence in basis trade profitability could prompt renewed activity and a short-term rebound in open interest. Why it matters: In a typical basis trade, investors buy spot bitcoin and short bitcoin futures to lock in the price gap. When the yield is high, demand for futures rises, boosting OI. As the yield shrinks, fewer traders engage in the strategy, leading to declining open interest and signaling reduced leverage in the market.
Yahoo
14-04-2025
- Business
- Yahoo
Bitcoin ETFs See Big April Outflows Despite Price Recovery
Bitcoin ETFs have faced persistent outflows throughout April, with investors pulling money from the products despite the recent price recovery, according to data from U.K.-based asset manager Farside Investors. The outflows have been nearly consistent across the month, with all but one day in April recording outflows from the various Bitcoin ETFs. Total April outflows reached $812.3 million as of Friday, with BlackRock's iShares Bitcoin Trust (IBIT) leading the exodus at $393.2 million withdrawn. The Grayscale Bitcoin Trust ETF (GBTC) has also experienced large outflows, with $256.4 million leaving the fund during this period, according to Farside. The Fidelity Wise Origin Bitcoin Fund (FBTC) had $64.5 million in outflows, while the Bitwise Bitcoin ETF (BITB) saw $42.3 million exit the fund. The Grayscale Bitcoin Mini Trust (BTC) stands as the only ETF showing positive flows for the month, adding $36.7 million during the period, according to Farside's data. The largest single-day outflow occurred on April 8, when Bitcoin ETFs lost $326.3 million—the same day President Donald Trump implemented a 104% tariff rate on Chinese imports. This outflow was more than double the next biggest outflow day in April. Despite the consistent ETF outflows, Bitcoin's price has shown resilience. The cryptocurrency most recently traded at around $84,150, according to CoinMarketCap data, posting a 7.8% gain over the previous seven days and a fractional gain over the past 24 hours. April 2 stands out as the only positive day in the month's flow data, with the ETFs collectively adding $218.1 million, according to Farside. This influx of capital came just as the Trump administration announced an additional 34% tariff on Chinese imports, raising the cumulative tariff rate to 54%. For the year to date, Bitcoin ETF flows remain positive at $215.2 million, despite the recent outflow trend. IBIT leads with $2.3 billion in net inflows for the year, while GBTC has experienced the largest outflows at $1.23 billion. As Bitcoin ETFs experience outflows, Strategy Inc. (MSTR) continues adding to its holdings. According to a Monday Securities and Exchange Commission filing, the company purchased 3,459 Bitcoin for approximately $285.8 million between April 7 and April 13 at an average price of $82,618 per Bitcoin. This latest acquisition brings Strategy's total Bitcoin holdings to 531,644, representing an aggregate investment of $35.9 billion at an average purchase price of $67,556 per | © Copyright 2025 All rights reserved
Yahoo
26-03-2025
- Business
- Yahoo
Buyers Favor Bitcoin ETFs Over Ethereum as Flows Shift
U.S. spot Bitcoin exchange-traded funds recorded their first net inflows in five weeks, attracting $744.3 million during the trading week ending March 21. The return to positive Bitcoin ETF flows marks a potential turning point for crypto investment sentiment, with Bitcoin products breaking their outflow streak while Ethereum-based funds continue to experience withdrawals for the fourth consecutive week. BlackRock's iShares Bitcoin Trust (IBIT) led the charge with $537.5 million in inflows over the five-day period, accounting for the bulk of the total, according to data from U.K.-based asset manager Farside Investors. Fidelity's Wise Origin Bitcoin Fund (FBTC) followed with $136.5 million in new investments, while ARK 21Shares Bitcoin ETF (ARKB) contributed $79.5 million. Daily flows data show Bitcoin's momentum building throughout the week, according to Farside's figures. March 17 saw $274.6 million enter Bitcoin ETFs, while March 18 added another $209.1 million. After a modest $11.8 million inflow on March 19, the products attracted $165.7 million on March 20 and finished with $83.1 million on March 21. The positive Bitcoin flows coincide with recent price movements that saw the cryptocurrency trading at around $87,935 midday Monday, showing a 5.4% improvement over the past seven days despite remaining down nearly 6% year to date, according to CoinMarketCap data. Source: Farside Investors as of March 24 While Bitcoin ETFs have found renewed investor interest, Ethereum-based products extended their negative streak to four consecutive weeks of outflows. According to Farside, Ethereum ETFs saw net outflows of $102.9 million for the same period, with BlackRock's iShares Ethereum Trust (ETHA) experiencing the largest exodus at $74 million. The largest single-day Ethereum outflow occurred on March 18, when investors withdrew $52.8 million from the funds, according to Farside data. Ethereum's price performance has shown recent signs of recovery, with the asset trading at around $2,074 and posting an 8.4% gain over the past seven days, according to CoinMarketCap. However, the cryptocurrency remains down for the year, having lost 37.8% of its value since January. The contrasting flow patterns highlight the shifting investor sentiment between the two leading cryptocurrencies as markets look to recover from recent | © Copyright 2025 All rights reserved Sign in to access your portfolio
Yahoo
24-03-2025
- Business
- Yahoo
Buyers Favor Bitcoin ETFs Over Ethereum as Flows Shift
U.S. spot Bitcoin exchange-traded funds recorded their first net inflows in five weeks, attracting $744.3 million during the trading week ending March 21. The return to positive Bitcoin ETF flows marks a potential turning point for crypto investment sentiment, with Bitcoin products breaking their outflow streak while Ethereum-based funds continue to experience withdrawals for the fourth consecutive week. BlackRock's iShares Bitcoin Trust (IBIT) led the charge with $537.5 million in inflows over the five-day period, accounting for the bulk of the total, according to data from U.K.-based asset manager Farside Investors. Fidelity's Wise Origin Bitcoin Fund (FBTC) followed with $136.5 million in new investments, while ARK 21Shares Bitcoin ETF (ARKB) contributed $79.5 million. Daily flows data show Bitcoin's momentum building throughout the week, according to Farside's figures. March 17 saw $274.6 million enter Bitcoin ETFs, while March 18 added another $209.1 million. After a modest $11.8 million inflow on March 19, the products attracted $165.7 million on March 20 and finished with $83.1 million on March 21. The positive Bitcoin flows coincide with recent price movements that saw the cryptocurrency trading at around $87,935 midday Monday, showing a 5.4% improvement over the past seven days despite remaining down nearly 6% year to date, according to CoinMarketCap data. Source: Farside Investors as of March 24 While Bitcoin ETFs have found renewed investor interest, Ethereum-based products extended their negative streak to four consecutive weeks of outflows. According to Farside, Ethereum ETFs saw net outflows of $102.9 million for the same period, with BlackRock's iShares Ethereum Trust (ETHA) experiencing the largest exodus at $74 million. The largest single-day Ethereum outflow occurred on March 18, when investors withdrew $52.8 million from the funds, according to Farside data. Ethereum's price performance has shown recent signs of recovery, with the asset trading at around $2,074 and posting an 8.4% gain over the past seven days, according to CoinMarketCap. However, the cryptocurrency remains down for the year, having lost 37.8% of its value since January. The contrasting flow patterns highlight the shifting investor sentiment between the two leading cryptocurrencies as markets look to recover from recent | © Copyright 2025 All rights reserved Sign in to access your portfolio
Yahoo
22-03-2025
- Business
- Yahoo
What the Collapse of the U.S. Bitcoin ETF Cash-and-Carry Trade Means for Investors
Over the past 30 days a net $180 million has flowed out of U.S. spot bitcoin (BTC) ETFs, among the highest rates of withdrawals since they started trading at the beginning of 2024. The ETFs have disappointed in 2025, with sluggish inflows largely driven by bitcoin's weak price performance, which is down roughly 10%. While there has been a brief uptick over the past five days — bringing in some $700 million in net inflows — total net inflows since startup now stand at $36.1 billion, according to Farside data. There are two main drivers for the past month's exit: heightened volatility in the price of bitcoin and the unwinding of what's known as the basis trade. The bitcoin price has been particularly volatile this year, shooting up to a record $109,000 in January at the start of President Donald Trump's administration in anticipation of a crypto-friendly regulatory environment and then tumbling to as low as $76,000 at the beginning of March on concerns related to Trump's tariff-based trade policy. Retail investors tend to sell during periods of heightened volatility, reacting emotionally as they would with any risk asset. As for institutions, they are unwinding the basis — or cash-and-carry — trade, which is a strategy that involves taking a long position in the ETF while simultaneously shorting CME bitcoin futures. A short is a bet that the price will drop, and the position is delta neutral trade that capitalizes on the futures pricing trading at a premium to spot. A delta neutral trade offsets price movements in the underlying asset by balancing positions, minimizing directional risk and maintaining market neutrality. Currently, this arbitrage yields only around 2%, among the least since the ETFs were first approved. With U.S. Treasuries, among the safest investments available, offering higher yields, many investors are opting for the lower-risk alternative. ETF inflows and outflows often signal market turning points. When outflows become particularly aggressive, they tend to coincide with local bottoms in bitcoin's price, especially when viewed on a 30-day moving average. This pattern was observed recently when bitcoin hit its low in March, as well as during similar pullbacks in August 2024 and April 2024. Sign in to access your portfolio
